Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Alternatively, taxpayers can send a physical copy of the ITR filed to the Centralised Processing Centre (CPC) office in Bengaluru.
'If more than 60 commissioner-level tax officials were compulsorily retired in the span of a few months, surely the malaise is far deeper,' notes A K Bhattacharya.
Under the new guidelines, the top 10 active equity schemes in terms of assets would collectively require investments of around Rs 365 crore -- up from mandated Rs 50 lakh at present -- in their own schemes.
The order, a "negative" overall, will be a short term positive for corporate focused state-run and private lenders because of the possibility of delaying incremental stressed asset recognition.
The Kerala high court on Thursday asked the state government as to what steps can be taken to ensure the safety of citizens on the roads in the wake of a bus accident in Palakkad claiming nine lives, including five school students.
Special Judge Santosh Snehi Mann passed the order on a petition filed by the CBI seeking revision of the order passed on Thursday by a magisterial court which also asked the agency to apologise to Patel.
The legislator visited the residence of mother Rabri Devi on Tuesday evening, spent the night at her place and, according to party sources, announced that he will henceforth not be living at the bungalow allotted to him by the state government.
The Supreme Court on Tuesday remarked the Gujarat government's reply to pleas challenging the remission granted to 11 convicts in the Bilkis Bano gang-rape case is very bulky wherein a series of judgments have been quoted but factual statements are missing.
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
Last year, the Indian Super League began on October 20 while the I-League started on November 30.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
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